Brinker International, Inc. (NYSE:EAT) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 47.4% in the third quarter, Holdings Channel.com reports. The firm owned 41,344 shares of the restaurant operator’s stock after buying an additional 13,301 shares during the period. Raymond James & Associates’ holdings in Brinker International were worth $2,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of Brinker International by 2,725.2% in the 3rd quarter. SG Americas Securities LLC now owns 68,962 shares of the restaurant operator’s stock worth $3,383,000 after acquiring an additional 66,521 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Brinker International by 461.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,347,280 shares of the restaurant operator’s stock worth $117,951,000 after acquiring an additional 1,928,850 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of Brinker International in the 3rd quarter worth approximately $903,000. LA Financiere DE L Echiquier grew its position in shares of Brinker International by 37.1% in the 3rd quarter. LA Financiere DE L Echiquier now owns 48,000 shares of the restaurant operator’s stock worth $2,355,000 after acquiring an additional 13,000 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Brinker International by 31.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 51,981 shares of the restaurant operator’s stock worth $2,550,000 after acquiring an additional 12,421 shares in the last quarter. Institutional investors own 94.07% of the company’s stock.

EAT opened at $36.43 on Friday. Brinker International, Inc. has a one year low of $33.52 and a one year high of $78.33. The stock’s fifty day moving average is $37.78 and its 200-day moving average is $47.30. The company has a market capitalization of $1.65 billion, a PE ratio of 12.78, a P/E/G ratio of 1.00 and a beta of 2.64.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, November 3rd. The restaurant operator reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. Brinker International had a negative return on equity of 40.62% and a net margin of 3.86%. The company had revenue of $859.60 million for the quarter, compared to the consensus estimate of $925.88 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Research analysts expect that Brinker International, Inc. will post 3.62 earnings per share for the current fiscal year.

Several brokerages have recently commented on EAT. Jefferies Financial Group decreased their target price on Brinker International from $78.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, October 21st. Morgan Stanley cut their price target on Brinker International from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank of Canada cut their price target on Brinker International from $53.00 to $45.00 and set a “sector perform” rating on the stock in a report on Thursday, October 21st. Zacks Investment Research raised Brinker International from a “strong sell” rating to a “hold” rating and set a $38.00 price target on the stock in a report on Tuesday, December 21st. Finally, Wedbush cut their price target on Brinker International from $69.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, October 21st. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Brinker International presently has an average rating of “Buy” and a consensus target price of $57.71.

In related news, SVP Daniel S. Fuller bought 1,275 shares of the firm’s stock in a transaction that occurred on Monday, November 29th. The shares were acquired at an average cost of $35.42 per share, for a total transaction of $45,160.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wyman Roberts sold 13,665 shares of Brinker International stock in a transaction on Monday, January 3rd. The stock was sold at an average price of $36.87, for a total value of $503,828.55. The disclosure for this sale can be found here. Insiders own 4.21% of the company’s stock.

About Brinker International

Brinker International, Inc engages in owning, developing, and franchising Chili’s Grill and Bar and Maggiano’s Little Italy restaurant brands. It operates through the following segments: Chili’s, and Maggiano’s. The Chili’s segment includes the results of company-owned Chili’s restaurants in the U.S.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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